ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In-housing
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Outsourcing
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Vertical Integration
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Horizontal Integration
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None of the above/answers
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Detailed explanation-1: -Outsourcing business functions is sometimes called contracting out or business process outsourcing.
Detailed explanation-2: -Outsourcing refers to contracting out specific business processes to a third-party or specialized service provider, i.e., an individual or company. Companies select external resources to perform tasks, services, or projects that they had previously handled on their own.
Detailed explanation-3: -Outsourced supply chain management refers to hiring a third-party logistics (3PL) company to manage, improve and optimize the supply chain. This allows ecommerce businesses to delegate storage and time-consuming ecommerce fulfillment tasks while saving money and improving their supply chain velocity.